Scatec Books Looks Good Despite Experiencing Deferred Solar Plant Commissioning

Google+ Pinterest LinkedIn Tumblr +
  • Scatec Solar’s first quarter 2020 proportionate revenues was NOK 866 million (1,528) with an EBITDA of NOK 346 million (315) and associated EBITDA margin of 40%.
  • The Power Production segment delivered 349 GWh on proportionate basis, an increase of 162% from the same quarter last year.

First quarter revenues decreased compared with the same quarter last year due to lower construction activity only partly offset by higher power production. The EBITDA increased by 10% in the same period, driven by new solar power plants starting commercial operation over the last quarters, doubling EBITDA in the Power Production segment to NOK 331 million (164). This change in segment mix impacted the EBITDA margin positively and resulted in a higher overall margin than in previous periods.

“We have so far not experienced any impact of COVID-19 on our operating assets; however, some deferred commissioning of new solar plants and slower project development activities are becoming evident. We recently strengthened our financial platform at attractive terms, and we continue our close partnerships with development banks. Our strategic priorities remain firm and we see attractive project opportunities in our target markets”, says Raymond Carlsen, CEO of Scatec Solar.

Read full report HERE

Author: Bryan Groenendaal


Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.